New Issue: UBS sells $23.5 million 14% 1-year GOALS linked to Nokia

New York, Jan. 30 - UBS AG priced on Monday $23.5 million of 14% one-year GOALS linked to the American Depositary Shares of Nokia Corp., according to a filing with the Securities and Exchange Commission.

The GOALS, sold from UBS' medium-term notes program, pay a higher than usual coupon in return for the holding accepting the risk they may participate in losses in Nokia's stock price.

The securities were brought to market by UBS Warburg and UBS PaineWebber Inc.

Issuer:	UBS AG
Amount:	$23.5 million
Maturity:	Feb. 3, 2003
Coupon:	14% payable semi-annually beginning Aug. 2, 2002
Price:	Par
Payout at maturity:	Par in cash if Nokia ADS's never close below the protection price of $16.42 or Nokia ADS's close below the protection price before the final valuation date (three business days before maturity) but close at or above the initial price of $23.45 on the final valuation date. The protection price was set as 30% below the initial price.
	Otherwise 42.6439 Nokia ADS's to reflect full decline in value of stock.
Listing:	"GPL.E" on American Stock Exchange

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